Budgeting

Have you ever started the week with $50 and by Thursday had no idea where it went?

Have you ever wanted to take a trip but weren’t sure how you'd be able to afford it?

Maybe your car broke down and you weren’t sure how you were going to be able to pay to get it fixed.

All of these problems have the same solution: a budget.

A budget can help you create a savings plan (to take a vacation), keep track of where you spend your money (where that $50 went), determine what is a "need" versus a "want" (PB&J or steak and fries), and help cover the cost of unforeseen events (a broken down car). Most importantly, it puts you in control of your money versus the other way around.

Most people have heard of a budget and many have actually set one up. It's easy to write down a spending plan. The hard part is sticking with it. If you keep it realistic (based on your income and expenses) and if you figure out how to balance your needs and wants, a budget is actually a very simple and effective tool for managing your money. Here's practical information for becoming a success at the process:

Needs vs. Wants

Disposable vs. Discretionary Income

How to Set-up and Stick to a Budget